Argomall now accepts crypto payments

Philippine online e-commerce company Argomall is now accepting cryptocurrency payments, a first for the country.

Online e-commerce company Argomall has been accepting cryptocurrency payments as early as April 1.

According to its media release, the company has partnered with blockchain-powered payment gateway CoinGate to facilitate crypto-based transactions.

This option is only available for straight payments.

Argomall Chief Argonaut (the company’s creative way of calling their CEO which pays homage to its Greek mythology-rooted namesake, Argo) Karel Holub said accepting bitcoin and 50 more altcoin paymens is in line with their mission to make it easier for their customers to discover, select, and purchase their products.

“Enabling online shoppers in the Philippines to pay with Bitcoin and around 50 more Altcoins is our way of providing good service, as well as opening up another means by which to earn,” Holub said in said media release. “This, to us, is a win-win situation where everyone gets good benefits. After all, our vision is that anyone in the Philippines will be able to easily upgrade their smartphone from anywhere, anytime—and that includes giving our customers all the ease and convenience they need to do just that. We aim to make their new device shopping journey as easy and comfortable as possible.”

CoinGate, for its part, said that partnering with Argomall is a “large step for cryptocurrency adoption.”

“Crypto-adoption among retailers is definitely what we need to strive for, ” CoinGate Marketing Manager Veronika Mishura said. “When more stores accept digital currencies, more users are prompted to buy all types of goods with cryptocurrency. This is exactly what crypto-industry needs for recognition that would lead to it becoming a standard payment method along with credit cards.”

This is a historical moment for both online e-commerce businesses in the Philippines as well as for CoinGate itself since this is the first time that a Philippine online shopping website is accepting cryptocurrency payments and is also the first integration of its kind for CoinGate in Southeast Asia.

Online purchases using crypto-based payments are seen to make transactions cheaper and faster compared to traditional payment methods.

“Technologies like Lightning Network have already made it more convenient and profitable for businesses to accept cryptocurrency rather than fiat,” Mishura added. “We are thrilled to have Argomall on board. Hopefully, Philippine crypto enthusiasts won’t stay aside, and will start using this new payment method.”